The start of the Bitcoin ABC (Bitcoin Cash) chain split has begun as the divide was initiated on August 1 at 12:37 p.m. UTC at block height 478558.
BTC and BCC Markets
Yesterday bitcoin markets were very active, and bulls managed to push the price up to $2929 just twelve hours before the possible fork. Now the price is down 8 percent to a low of $2700 as people sit and wait for the fork’s outcome to commence. Many traders believe the BTC price spike is currently valued with the BCC token’s value priced into it, but market predictions are very speculative. At the moment BCC futures are trading at 0.15 BTC or US$400 after seeing a decline in value over the past week. The San Francisco -based bitcoin exchange Kraken has announced it would begin crediting Bitcoin Cash shortly and trading has begun on the platform. Bitcoin Cash prices on Kraken are similar to Viabtc’s futures at the time of writing.
Fork Watch: Block 478558 Initiates 'Bitcoin Cash' Split
Bitcoin prices hit a high of $2929 on July 31st overnight but subsequently dropped to $2700 during the August 1 morning hours. Bitcoin Cash is trading for about $400 on Viabtc and Kraken at the moment.
At the moment bitcoin proponents are glued to their screens waiting for the next course of action regarding the August 1 split. Block 478558 was the last common block found and the next event will be the first Bitcoin Cash big block found which could take some time depending on hashrate. 